Connect with us

News

‘Lockdown almost shut down our economy’- FG

Published

on

The lockdown and physical distancing measures that were implemented to curb the spread of COVID-19 in Nigeria almost led to a complete shutdown of economic activities across the country, the Federal Government said on Sunday.

In her opening address in Abuja at the capacity building for Special Advisers and Technical Assistants of ministers, the Minister of Finance, Budget and National Planning, Zainab Ahmed, also said Nigeria’s economy would further suffer revenue decline in the third quarter of this year. She said the economy faced serious challenges in the first half of 2020, seeing about 65 per cent decline in projected net 2020 government revenues from the oil and gas sector, with adverse consequences for foreign exchange inflows into the economy. “We anticipate that these challenges will continue into the third quarter,” Ahmed said.

She added, “The necessary implementation of a lockdown and social distancing measures led to a near complete shutdown of economic activities, lay-offs across most sectors, loss of income, and a drop in average household purchasing power.” According to her, all of these took place against the backdrop of the most recent National Bureau of Statistics five-year household survey on poverty in Nigeria.

She said the survey had found that the annual household income was less than N137,000 (approximately N11,000 per month) for more than 40 per cent of Nigerian households.

0 Users (0 votes)
Criterion 10
What people say... Leave your rating
Sort by:

Be the first to leave a review.

User Avatar
Verified
{{{ review.rating_title }}}
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}
Leave your rating

Your browser does not support images upload. Please choose a modern one

Click to comment

Leave a Reply

Your email address will not be published.

News

Groups call for end to nationwide #endSARs protest.

Published

on

By

A group, Citizens Action for Good Governance (CAGG) has called for a halt of the #EndSARS protests, decrying the alarming increase in violent assaults carried out against both citizens and police officers.

Addressing journalists in Abuja on Monday, October 19, the national coordinator of CAGG, Nazir Galadanchi said the protesters should reason with the government and listen to calls and appeals by many well-meaning citizens. Galadanchi further said the heightened insecurity has tarnished the image of the country amongst the comity of nations.

His words:

“The peace of Nigeria should have been the overriding imperative of all. No person or group, no matter how aggrieved, should be allowed to undermine or threaten national security, unity, tranquillity, peace and harmony. “We would like to appeal to our fellow Nigerians, especially young people to halt the protests for their safety because their demands are already being attended to by the government, and we are optimistic that there will be a better life for all.’’

He also appealed to leaders and persons of influence, including celebrities and religious leaders, to persuade their followers and fans to discontinue the protests.

0 Users (0 votes)
Criterion 10
What people say... Leave your rating
Sort by:

Be the first to leave a review.

User Avatar
Verified
{{{ review.rating_title }}}
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}
Leave your rating

Your browser does not support images upload. Please choose a modern one

Continue Reading

Trending